Supreme Court Denies Anticipatory Bail in Rs 640 Crore Cyber Fraud Case

The Supreme Court on Wednesday declined granting anticipatory bail to chartered accountant Bhaskar Yadav, implicated in a money laundering probe tied to a Rs 640 crore cyber fraud case. Justices MM Sundresh and Augustine George Masih upheld the Delhi High Court's decision, mandating Yadav's surrender within 10 days.

On February 2, the Delhi High Court rejected anticipatory bail requests by Yadav and Ashok Kumar Sharma, citing the complex web of money laundering and the Enforcement Directorate's need for custody-based interrogation as valid. The court emphasized that skilled professionals were involved in maneuvering large sums of fraudulently obtained money.

The investigation stems from FIRs filed by the Economic Offences Wing, revealing the widespread misuse of over 5,000 bank accounts. Allegedly, the funds were funneled through international platforms and withdrawn in Dubai, underlining the multilayered fraud orchestrated by a network of chartered accountants, company secretaries, and crypto traders.